879 Parsons St SW · Atlanta, GA 30314

$1,000,000

7 bd · 7.0 ba · 3,131 sqft · MultiFamily public records · 132 Days on market

Built 2010 4,356 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 14 units. estimate disagrees with records

Listing remarks MLS

Offered at $1,000,000 with current CAP rate of 9.85 % and potential CAP rate of 11.35%!, this 14-unit property boasts a potential annual gross income of $159,600.00. 100% occupancy! It's a perfect 1031 exchange candidate, DSCR loan or even for a first time investment with a commercial conventional loan. Specifically built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full kitchens, plus private bathrooms in 10 units. Key features include new HVAC, water heaters, keyless entry, and close proximity to Morehouse, Georgia Tech, Spellman, MARTA, and shopping. This turnkey investment is a high-yield, easy-to-manage asset. Units B2, B3, A1, A3 have shared bathrooms, the rest have their own private bathrooms. 2 shared kitchens & 2 shared laundry sets/areas per side. Do not miss this immediate strong cash flow.

Key facts

• New hvac
• New water heaters
• 14 unit property

Tags

• 14 UNIT PROPERTY
• POTENTIAL ANNUAL GROSS INCOME
• 100 PERCENT OCCUPANCY
• BUILT FOR STUDENT HOUSING
• NEW HVAC
• NEW WATER HEATERS

What this means for you Summary

Snapshot

• This is a 14 × 1-bed/1-bath units multifamily listed at $1.00M.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $287/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.00M).
• Recommended offer: $880k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.1% in Atlanta — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#6 in GA, #919 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-.
• Atlanta Public Schools (urban): math 28% / reading 35% proficiency, ranked #80 of 174 in GA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.5%/yr); 293 active listings in the ZIP; lower-income renter base — watch delinquency; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $13,654/mo this rent would consume 389% of the median local household income ($42k/yr) (locally 1293% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $280k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $725k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $880,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.19%
• DSCR: 1.77
• GRM: 6.1

CMA / ARV

• ARV (median comp): $549,837
• List price: $1,000,000
• Delta: 81.87%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.53% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $87,183
• Equity at exit: $149,103

10-year hold

• IRR: 16.9%
• Equity multiple: 2.35×
• Total profit: $379,327
• Equity at exit: $86,462

Cash invested: $280,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30314

• Home prices YoY: -22.9%
• Rents YoY: 2.5%
• Active inventory: 293
• Price-to-rent: 85.4×

Monthly cashflow live

• Estimated rent: $13,654 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$1,114 /mo · $13,366/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,867
• Net cashflow: $4,012

Break-even live

Break-even rent $8,575

Max offer price $1,000,000

Occupancy floor 66%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	1	1	$13,650
Total (14 units)			$13,654

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $1,000,000 Active 132 DOM
2. 2026-06-17
   days on market $1,000,000 Active 131 DOM
3. 2026-06-16
   days on market $1,000,000 Active 130 DOM
4. 2026-06-15
   days on market $1,000,000 Active 129 DOM
5. 2026-06-13
   days on market $1,000,000 Active 127 DOM
6. 2026-06-13
   days on market $1,000,000 Active 126 DOM
7. 2026-06-09
   days on market $1,000,000 Active 123 DOM
8. 2026-06-08
   days on market $1,000,000 Active 122 DOM
9. 2026-06-07
   days on market $1,000,000 Active 121 DOM
10. 2026-06-04
    days on market $1,000,000 Active 118 DOM
11. 2026-06-03
    days on market $1,000,000 Active 117 DOM
12. 2026-06-02
    days on market $1,000,000 Active 116 DOM
13. 2026-06-01
    days on market $1,000,000 Active 115 DOM
14. 2026-05-31
    days on market $1,000,000 Active 114 DOM
15. 2026-02-06
    listed $1,000,000 New 867-char remark

    Show marketing remark (873 chars)

    Offered at $1,000,000 with current CAP rate of 9.85 % and potential CAP rate of 11.35%!, this 14-unit property boasts a potential annual gross income of $159,600.00. 100% occupancy! It’s a perfect 1031 exchange candidate, DSCR loan or even for a first time investment with a commercial conventional loan. Specifically built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full kitchens, plus private bathrooms in 10 units. Key features include new HVAC, water heaters, keyless entry, and close proximity to Morehouse, Georgia Tech, Spellman, MARTA, and shopping. This turnkey investment is a high-yield, easy-to-manage asset. Units B2, B3, A1, A3 have shared bathrooms, the rest have their own private bathrooms. 2 shared kitchens & 2 shared laundry sets/areas per side. Do not miss this immediate strong cash flow.

16. 2026-02-06
    listed $1,000,000 Active 873-char remark

    Show marketing remark (873 chars)

    Offered at $1,000,000 with current CAP rate of 9.85 % and potential CAP rate of 11.35%!, this 14-unit property boasts a potential annual gross income of $159,600.00. 100% occupancy! It’s a perfect 1031 exchange candidate, DSCR loan or even for a first time investment with a commercial conventional loan. Specifically built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full kitchens, plus private bathrooms in 10 units. Key features include new HVAC, water heaters, keyless entry, and close proximity to Morehouse, Georgia Tech, Spellman, MARTA, and shopping. This turnkey investment is a high-yield, easy-to-manage asset. Units B2, B3, A1, A3 have shared bathrooms, the rest have their own private bathrooms. 2 shared kitchens & 2 shared laundry sets/areas per side. Do not miss this immediate strong cash flow.

17. 2025-08-05
    historical
18. 2025-04-24
    listed $1,200,000 Active
19. 2025-04-24
    historical
20. 2025-04-23
    listed $1,200,000 New
21. 2025-04-03
    historical
22. 2025-04-02
    historical
23. 2025-02-14
    historical $800
24. 2024-10-30
    listed $1,200,000 New
25. 2024-10-30
    listed $1,200,000 Active
26. 2024-10-02
    listed $800
27. 2024-10-02
    historical $800
28. 2024-10-02
    historical $800
29. 2024-10-02
    listed $800
30. 2024-09-07
    listed $800
31. 2024-09-07
    historical $800
32. 2024-05-29
    listed $800
33. 2021-05-18
    soldstatus $725,000
34. 2021-05-17
    soldstatus $725,000 Closed
35. 2021-05-17
    soldstatus $725,000 Sold
36. 2021-03-15
    status Pending
37. 2021-03-01
    status Under Contract
38. 2021-03-01
    historical Active Under Contract
39. 2021-02-23
    price $775,000
40. 2021-02-22
    price $775,000
41. 2021-02-06
    price $799,000
42. 2021-02-05
    price $799,000
43. 2021-01-12
    listed $880,000 Active
44. 2021-01-12
    listed $880,000 New
45. 2018-11-21
    soldstatus $537,000 Sold
46. 2018-09-25
    price $550,000
47. 2018-09-13
    price $560,000
48. 2018-08-27
    price $570,000
49. 2018-07-05
    status Active
50. 2018-06-24
    status Pending

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $13,366 · $1,114/mo
• Projected year-2 tax: $13,366 · $1,114/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $163,848
• − Mortgage interest: −$56,016
• − Property taxes: −$13,366
• − Insurance: −$5,000
• − Repairs & maintenance: −$13,108
• − Management: −$13,108
• − Depreciation: −$29,091
• Taxable income: $34,160
• Est. tax owed @ 24.0%: −$8,198
• After-tax cash flow: $39,946/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Atlanta Public Schools
• NCES district ID: 1300120
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $48,306
• Composite: 27.27/100
• National rank: #7006
• State rank: #80 of 174 in GA

Livability — Atlanta

• Score: 83/100
• State rank: #6
• US rank: #919

Category grades

Amenities A+ Commute A+ Cost of living C- Crime A Employment B Housing A+ Health & safety A- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, GA
• County: Fulton County · 1,094,430 people
• City population: 629,525
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 23,333
• Household income: $42,089
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 1293.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 1,203,707 people
• By 2030: 1,299,706 · +8.0%
• By 2040: 1,488,256 · +23.6%
• By 2050: 1,664,580 · +38.3%
• By 2075: 2,036,072 · +69.2%
• By 2100: 2,222,402 · +84.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 11% Hispanic / Latino 7% Asian 4% Two or more races 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid D (+44.9) · D 71.9% · R 27.0% · Other 1.1%
• 2008→2024 swing: +9.8pp toward D · 2008: 35.0pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+46.4 2016: D+42.1 2012: D+29.6 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.32%
• Current HPI: 321.4626
• Rent YoY: ▲ 2.53%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+525.0% since first listed

45 events — show timeline

• 2026-02-06 Listed $1,000,000 FMLS
• 2026-02-06 Listed $1,000,000 GAMLS
• 2025-08-05 Listing Removed — GAMLS
• 2025-04-24 Listed $1,200,000 FMLS
• 2025-04-24 Coming Soon — FMLS
• 2025-04-23 Listed $1,200,000 GAMLS
• 2025-04-03 Listing Removed — GAMLS
• 2025-04-02 Listing Removed — FMLS
• 2025-02-14 Rental Removed $800 GAMLS
• 2024-10-30 Listed $1,200,000 FMLS
• 2024-10-30 Listed $1,200,000 GAMLS
• 2024-10-02 Listed for Rent $800 GAMLS
• 2024-10-02 Rental Removed $800 FMLS
• 2024-10-02 Rental Removed $800 GAMLS
• 2024-10-02 Listed for Rent $800 FMLS
• 2024-09-07 Listed for Rent $800 GAMLS
• 2024-09-07 Rental Removed $800 FMLS
• 2024-05-29 Listed for Rent $800 FMLS
• 2021-05-18 Sold (Public Records) $725,000 Public Records
• 2021-05-17 Sold (MLS) $725,000 GAMLS
• 2021-05-17 Sold (MLS) $725,000 FMLS
• 2021-03-15 Pending — FMLS
• 2021-03-01 Pending — GAMLS
• 2021-03-01 Contingent — FMLS
• 2021-02-23 Price Changed $775,000 GAMLS
• 2021-02-22 Price Changed $775,000 FMLS
• 2021-02-06 Price Changed $799,000 GAMLS
• 2021-02-05 Price Changed $799,000 FMLS
• 2021-01-12 Listed $880,000 GAMLS
• 2021-01-12 Listed $880,000 FMLS
• 2018-11-21 Sold (MLS) $537,000 FMLS
• 2018-09-25 Price Changed $550,000 FMLS
• 2018-09-13 Price Changed $560,000 FMLS
• 2018-08-27 Price Changed $570,000 FMLS
• 2018-07-05 Relisted — FMLS
• 2018-06-24 Pending — FMLS
• 2018-06-13 Contingent — FMLS
• 2018-06-07 Price Changed $580,000 FMLS
• 2018-04-24 Price Changed $600,000 FMLS
• 2018-04-12 Price Changed $625,000 FMLS
• 2018-03-23 Price Changed $675,000 FMLS
• 2018-03-22 Price Changed $600,000 FMLS
• 2018-03-18 Listed $725,000 FMLS
• 2015-08-07 Sold (Public Records) $510,000 Public Records
• 2004-05-24 Sold (Public Records) $160,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $13,366 · +7.0% YoY. Source: county tax records.